Embassy Office Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Embassy REIT reported record quarterly distributions of ₹617 crores (₹6.51 per unit) for Q2 FY2026, up 12% YoY — the highest since its April 2019 listing. Revenue grew 13% YoY to ₹1,124 crores and Net Operating Income rose 15% YoY to ₹927 crores. Portfolio occupancy climbed to 93% by value (90% by area), supported by 1.5 msf of fresh leasing across 20 deals, with GCCs contributing 56%. The company delivered 0.9 msf of new development in Bengaluru, fully pre-leased to a Fortune 500 retail major, and has a 7.2 msf development pipeline with 42% pre-leasing. Gross Asset Value rose 8% YoY to ₹63,980 crores and NAV grew 7% to ₹445.91 per unit. Management reiterated FY2026 guidance of ₹24.50–26.00 DPU (~10% growth at mid-point) and NOI of ₹3,589–3,811 crores, while highlighting an additional ~1,500 ksf in active lease pipeline discussions.
Positive for unitholders — record distributions, double-digit YoY growth across revenue and NOI, rising occupancy, and a clear multi-year development pipeline support the distribution yield story. Continued leverage at 31% Net Debt/GAV with debt cost down 55 bps to 7.35% leaves room for accretive growth, though investors should note Pune occupancy remains weak at 62%.